CSB Bank shares jump 6% in weak market, hit 52-week high; more steam left?

According to analysts, the bank's management has a multipronged growth strategy, leading to a compelling investment argument

Shares of Kerala-based CSB Bank hit fresh 52-week high of Rs 358 apiece as they surged 6 per cent on the BSE in Tuesday's intraday trade. The benchmark S&P BSE Sensex, on the other hand, was down 0.35 per cent at 65,600 levels at 1:25 PM. 

The shares were trading close to their all-time high level of Rs 374, touched on July 5, 2021. Including today's rally, the stock has moved higher by 8.6 per cent in five sessions as against a 1 per cent dip in the frontline Sensex index. 

Effective October 1, CSB Bank has hiked lending rates